Greyscale Bitcoin Trust: Buying Bitcoin At A Discount

CRYPTONAIRE LYWEEK

CRYPTO investment journal

Greyscale Bitcoin Trust: Buying Bitcoin At A Discount

The lack of a US-traded Bitcoin ETF continues to elude investors.

Many remain uncomfortable holding Bitcoin themselves and prefer a reputable custodian for security reasons.

The most elegant solution is the Greyscale product of which I am a big fan.

An interesting anomaly has occurred where investors can buy Bitcoin at a discount which will be explained below.

Bitcoin Market Cap over $1 Trillion

The article below is my current thoughts on the Greyscale Bitcoin Trust (GBTC) now that Bitcoin has surpassed $1 trillion in market cap (original article here). The eclipsing of the $1 trillion levels is a significant event as it allows additional large-scale institutions to gather assets in the sector. I know it sounds mind-boggling, but at a market cap of $200 million (less than $20k per coin), the market is considered too small and immature for the more prominent players to play in. We have witnessed the initial foray of what I term the “pioneers,” namely Square (SQ), Tesla (TSLA), and the King of Bitcoin himself, Michael Saylor’s MicroStrategy (MSTR), dive into the deep end of the pool and add Bitcoin directly onto the corporate balance sheet.

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